Sensex down 650 points; HDFC lone index gainer

MUMBAI: Frontline indices came off the lows of the day, but further downside cannot be ruled out as global signs remain negative. Several mid-cap counters continued to languish amid major unwinding in stock futures. At 1:30 pm, the Sensex was down 652 points or 3.55 per cent at 17,709.27. Earlier, the index touched a low of 17,443.29 after opening at 18,011.89. State Bank of India (down 6.75%), Reliance Communications (6%), DLF (5.53%), Infosys Technologies (5.33%) and HDFC Bank (5.02%) were the biggest losers. HDFC, up 1.34 per cent, was the only gainer on the 30-share index. The National Stock Exchange’s Nifty was down 238 points or 4.42 per cent at 5145.60. The index touched a low of 5071. CNX Mid-cap Index was down 2.03 per cent and the BSE Mid-cap Index lost 2.43 per cent. Bharat Electronics (down 13.43%), HDIL (10.39%), SAIL (8.53%), Reliance Capital (8.02%), SUN TV (7.64%), Orchid Chemicals (7.57%) were the worst hit. Selling continued across Asia, pulling the Nikkei 225 down 3.97 per cent, the Hang Seng down 5.06 per cent and the Straits Times down 4.14 per cent.